Virginia Mines Inc. (TSE:VGQ) enters into agreement with Anglo American Exploration Ltd., to transfer Anglo American Exploration Ltd a 50 per cent undivided interest in the mining claims in Baie Payne nickel property.
The press release is quoted as saying:
The Baie Payne property covers important mafic/ultramafic complexes that reach over 1000 metres in thickness with a cumulative lateral spread of more than 50 kilometres. All these complexes lie in a supracrustal sequence of iron formations, basalt, and sulphide mudstones within a sheared allochtone structure called the Roberts Syncline. More than 40 Ni-Cu surface showings grading up to 6.5% Ni have been mapped and sampled within this fertile, largely unexplored environment.